Effective Ways to Save Money

This article is written by SB, who blogs at One cent at a time, a blog dedicated to all round well-being for everyone including saving money, smart investments and improving productivity. Subscribe to his RSS feed via email or e reader.

5 Responses to Effective Ways to Save Money

I have to disagree on debt consolidation — I don’t think you should ever consolidate non secured debt into a home mortgage even if it’s a better rate. That all of a sudden puts your house at risk for debt that previously didn’t risk the house. That’s not a smart move even if it reduces the interest rate in my book

Another thing — I think a lot of people live in housing that is more than they need, but you need to think about all the costs of moving apartments — moving costs, deposits, more distant commute, etc before making the decision. Even if the rent is lower, that in itself doesn’t make it a good financial move if you forget about all the other costs.

It’s the same things with all those people who traded cars that used a lot of gas for better mileage when gas prices were high. It usually doesn’t make financial sense to do so. Running the numbers is important!

I sure wish that personal finances weren’t so boring. I understand why people don’t like to get their finances in order when it is just repeating the same things over and over. Boring. It should be more exciting like investing in stocks.

@Danny, sure you can manage your finance your own way. That’s why its called ‘personal’ finance. Do what works for you. If you don’t want to consolidate credit card debt and mortgage together then there are other ways to bring down credit card interest rate. Which includes simply talking with the issuer and enrolling in a hardship program. Almost every issuer today offer a hardship program.

@Greg, at times it is in deed boring. But do not neglect. I am sure you feel you work is boring too at times, isn’t it?